Twitter's new boss and Tesla CEO Elon Musk is no longer the world’s richest person after Tesla shares fell sharply on Monday, according to Forbes.
Musk has been the world’s richest person since September 2021 after he overtook Amazon founder Jeff Bezos. (Photo: Reuters)
By India Today Web Desk: Elon Musk, Twitter's new boss and Tesla CEO, is no longer the world’s richest person anymore, according to Forbes. The title of the richest person in the world is now with Louis Vuitton CEO Bernard Arnault after a decline in Tesla's share price.
Arnault displaced Musk as the world’s richest person after Tesla shares fell sharply and the LVMH stock price simultaneously increased on Monday, reported CNBC. According to Forbes, Arnault is worth $186.2 billion.
advertisement
Also Read | Elon Musk briefly loses world’s richest person title to Louis Vuitton CEO
Musk has been the world’s richest person since September 2021 after he overtook Amazon founder Jeff Bezos. Arnault made his fortune by building the world’s largest luxury goods company, including brands like Louis Vuitton but also Tiffany, Celine and Tag Heuer.
Tesla shares closed down about 6.3 per cent on Monday, and have more than halved in value this year to some extent due to a sell-off that accelerated after Musk's $44 billion Twitter acquisition.
Watch | Elon Musk converts Twitter HQ into bedrooms; a look inside his real-estate portfolio
According to SEC filings, Arnault owns a little over 60 per cent of LVMH's voting share class through holding vehicles and family trusts.
Who is Bernard Arnault?
Bernard Arnault is a French businessman and the chairman of LVMH Moet Hennessy and the CEO of Luios vitton group. The group owns some 70 companies, including Dom Perignon (wines), Louis Vitton, Fendi, Marc Jacobs (clothing) and Fenty Beauty by Rihanna (make-up).
Four of his children are working in the different corners of the LVMP empire. The 73-year-old was born and raised in an industrial family. He started his professional career as an engineer.
In 1971, he joined his father’s construction firm, Ferret-Savinel. Eight years later, he changed the company’s name to Ferinel Inc. and shifted its focus to real estate. In 1979, Arnault became the president of the company.
--- ENDS ---
Elon Musk dethroned as world’s richest person. Here’s who is No.1 now - India Today
Read More
No comments:
Post a Comment